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Publish Date : 01-Mar-2016

The Chinese state-owned company, China National Offshore Oil Corp. (CNOOC) seeks bids from foreign companies for offshore oil and gas exploration blocks in the country.

CNOOC is offering 18 blocks in the tender, spreading over an area of 20,281 square miles (52,257 square kilometers) offshore China.

According to CNOOC, it will be flexible while negotiating contracts with bidders in regards with terms and conditions of the exploration period, relinquishment and payment on the signature fees if the blocks are located in deepwater, deep play structure and even high temperature and high pressure (HTHP) structure.

Interested companies are required to approach CNOOC to schedule a visit to the Data Room in Tianjin, Shanghai, Guangzhou and Zhangjiang, from where they can buy relevant information of the offshore blocks offered in the tender from Feb. 24 to June 30.

CNOOC offers the following offshore blocks : Blocks 11/03 11/09 and 06/36 in Bohai Bay Basin; Block 24/17 in South Yellow Sea Basin; Blocks 26/18, 28/06 14/21 29/24 41/24 42/12 43/08 55/05 and 44/07 in Pearl River Mouth Basin (East); Block 50/13 in Yinggehai Basin; Blocks 53/23 64/03 53/34 and 53/36 in Qiong Dongnan Basin.

Late date to submit bid is Oct. 31.

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